simple guy Posted January 29, 2003 Report Posted January 29, 2003 Gotta get back on the horse... NDX today traced out a mini 50%+ retrace of the recent NDX from 1039 to 982 (todays low). Some are indicating a move back to double kiss the 1039-1040 area is possible, and it is... even my 1050 I mentioned last week might be kissed as well in one messed up A B C leg 2.... but I dont see it. SG instead sees it this way Today we traced out a mini wave 2 up. Mini wave 3 should now head down to 924 NDX and sub 23 on the Q's.... the pattern in my opinion should be largely complete because the QQQ came within 5 pennies of a 78.6% fibo retrace of the 25.84 to 24.34 move.... thats close enough. The chart below depicts the NDX and how I see it unfolding. I realize this is against the grain a bit.... but I still feel the imminent downleg should start tomorrow and last to end of friday.... and we should see that 924 within several trading days....
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